Establish a timeline and budget for your next commercial landscape project. Consider these steps to prioritize and evaluate your project as you prepare to work with Monarch Landscape Companies.
A SWOT, or Strengths, Weaknesses, Opportunities and Threats, analysis is an essential part of property management. After conducting this analysis, it’s time to find out the best way to move forward with your landscaping project. There are two basic budget types to consider as you prepare to determine your costs:
• Capital budget
• Operating budget
Capital budget items are typically one-time investments .Installing a drainage management system, renovating beds or performing a turf conversion are all examples of costs that occur once to repair or enhance your property.
An operating budget includes recurring expenses, typically on a monthly basis. These can include mowing, trimming, edging, blowing and irrigation inspection. A common mistake in budgeting is including a capital budget but not considering how operating expenses will be covered.
Prioritize your landscape projects by creating a three-year plan. Long-term planning helps you evaluate projects and save for essential ones. For example, a major capital budget item this year requires additional operating expenses for the next few years or on an ongoing basis.
Start this year with minor improvements that can still fit into your budget. Major projects may require multi-year expenses, so prioritize projects that can immediately enhance your curb appeal and property value before moving onto multi-year projects. Here is an example of some steps in a three-year plan:
• Year one: Improve general maintenance and consider starting a multi-year, multi-phase project
• Year two: Focus on major upgrades and enhancements
• Year three: Complete your multi-year project
Work with a leading team of experienced landscaping professionals in your area. Contact us at Monarch Landscape Companies to discuss your budget and identify more ways to prioritize and evaluate your landscaping projects.
